ITV’s director of television Peter Fincham is stepping down after eight years with the commercial broadcaster. He will be replaced by ITV Studios managing director Kevin Lygo. ITV Studios’ UK managing director, Julian Bellamy, will now step up to replace Lygo. The corporate moves were announced Monday.David McGraynor, ITV Studios Finance Director, will take on the new role of Chief Finance and Operating Officer of the Studios division.

Lygo and Bellamy will begin their new roles on February 1 with Fincham remaining at ITV until the end of March to complete the handover process.

“Peter came to see me in September to say that he wanted to step down and whilst I am sorry to see him leave, eight years is a long time and I fully respect his desire for a new challenge,” said ITV chief exec Adam Crozier in a statement. “He and I have worked closely together since I joined ITV and he has been a great creative partner and has led a brilliant creative transformation of ITV’s programming, launching some of the biggest shows on British television. We wish him all the very best for the future.“

Crozier added: “We are fortunate to have some of the best creative talent in the industry at ITV and that has enabled us to put in place a seamless succession plan. I’m delighted that Kevin is to take on the role of Director of Television, a position he previously held at Channel 4. He is perfectly placed to lead the commissioning team as we enter this next exciting phase. It’s also fantastic news that Julian is going to run our Studios business. The US is obviously a huge focus for ITV, and Julian’s experience whilst at Discovery will be incredibly important as we continue to grow and develop in the UK and internationally.”

“This is a personal decision that I have been thinking about for a good while. By the time I leave at Easter I will have been a channel controller at the BBC and ITV, amazing as it seems, for eleven years,” said Peter Fincham. “Quite simply, it’s time to do something different. I’ve been lucky enough to work with Adam and senior colleagues at ITV during a period of great revival, supported by a wonderful team, and there’s a very strong pipeline of new programmes to look forward to. I haven’t made any firm plans for the future yet, but I wouldn’t rule out a return to the indie sector – I ran TalkBack for a lot longer than I’ve been on the broadcasting side and that indie heart has never quite stopped beating. I’ll miss ITV and I won’t deny that Director of Television at ITV is a hard job to leave, but it’s somebody else’s turn and I wish Kevin the very best of luck – I’m sure he will do it brilliantly.”

Under Fincham and Crozier, ITV has rebounded thanks to ratings juggernauts like Downton Abbey. ITV has been on an acquisitions tear of late, taking full control of Mammoth Screen and closing a deal in March last year to acquire 100% of John De Mol’s Talpa in a deal worth an initial $530 million. In the past two years, the company has bought a string of U.S. and UK production companies, including Big Talk, The Garden and Leftfield Entertainment. ITV also bought Boom Supervisory Limited, the holding company of Brit TV production banner Twofour Group, from majority shareholder LDC, the private equity arm of Lloyds Banking Group. Companies owned by the umbrella group include Twofour, Indus Films and Boomerang, with credits including  Educating…., The Jump, The Hotel Inspector and Animal Odd CouplesTwofour has offices in London, Cardiff, Plymouth, Los Angeles and New York.